US Stocks drop as Merkel cancels EU bailout meeting

[suityou01]

Linkypoo

U.S. stocks retreated, sending the Standard & Poor’s 500 Index down for a second straight day, as German Chancellor Angela Merkel canceled a speech to parliament on the European bailout fund.

German Chancellor Merkel has canceled her planned speech to parliament in Berlin tomorrow because of a deadlock over proposals to leverage the European Financial Stability Facility to give it more firepower, three German lawmakers said. Draft documents detailing plans to boost the facility prompted criticism from some German lawmakers who opposed bailout aid.

Reading between the lines I think Germany couldn't give a fig about Greece. Why should they? With a strong export market, would heading back to the deutsche mark be such a bad thing? It would make them masters of their own destiny. The ability to manipulate their own currency while the rest of europe comes cap in hand?

Greece defaults this month I predict.

[wobbegong]

Reading between the lines I think Germany couldn't give a fig about Greece. Why should they? With a strong export market, would heading back to the deutsche mark be such a bad thing? It would make them masters of their own destiny. The ability to manipulate their own currency while the rest of europe comes cap in hand?

Greece defaults this month I predict.

Oh how quickly we forget; Germany is famous for wanting to be masters of other peoples destiny.

[centurian]

With a strong export market, would heading back to the deutsche mark be such a bad thing?

Errr - that's exactly the problem. The reason they have strong exports is because they don't have the DM. If they did, it would go through the roof and their strong export market would soon vanish when their goods became 2-3x more expensive.

[scooterscot]

Greece defaults this month I predict.

If it does it'll still be in the euro, I predict.

And you're right, in Germany nobody gives a flying fig about Greece yes everybody shakes their heads those lazy Greeks. The media should take a look in our own back yard first.

[MarillionFan]

Anyway. What's the point of this thread?

The Dow Jones is up.

[suityou01]

Errr - that's exactly the problem. The reason they have strong exports is because they don't have the DM. If they did, it would go through the roof and their strong export market would soon vanish when their goods became 2-3x more expensive.

Bless. Read here for example.

[scooterscot]

Oh how quickly we forget; Germany is famous for wanting to be masters of other peoples destiny.

Oh how quickly we forget, what was the last UK government was trying to do by installing more CCTV cameras than the whole of europe combined? What was it Tony and Guy were trying to do by introducing laws to pick up anyone off the street under the terrorism bill? A bill that has been utterly abused. Why is inheritance tax robbing families to feed spongers? If that's not mass control of peoples destiny I don't what is. Socialism is wrong when it is like this, IMO Germany is well ahead of the curve at the minute where compared to the UK for interfering in peoples personal lives. Don't make me

[suityou01]

Anyway. What's the point of this thread?

The Dow Jones is up.

<Simple breakdown for the mong>

The euro is screwed and Germany will capitalise on it.

</Simple breakdown for the mong>

[Doggy Styles]

Oh how quickly we forget; Germany is famous for wanting to be masters of other peoples destiny.

It would be nice if they went back to dropping crisp new fivers over the UK!

[sasguru]

Oh how quickly we forget, what was the last UK government was trying to do by installing more CCTV cameras than the whole of europe combined? What was it Tony and Guy were trying to do by introducing laws to pick up anyone off the street under the terrorism bill? A bill that has been utterly abused. Why is inheritance tax robbing families to feed spongers? If that's not mass control of peoples destiny I don't what is. Socialism is wrong when it is like this, IMO Germany is well ahead of the curve at the minute where compared to the UK for interfering in peoples personal lives. Don't make me

For once I agree with part of what you're saying. New Lab were about control.
But after the recession in the early 90s, from about 1992 to 1997 there was strong growth without credit, a strong ethic of paying for yourself, the pension provision was the envy of Europe, we were on a trajectory of virtous growth.
Unfortunatley the Tories self-destructed with some sleaze that now seems minor compared with what we're used to now.
And Labour in trying to be "more like Europe" simply threw billions at problems with the ensuing result.